Magma Energy (T.MXY) hit a 52-week high of $2.10; Magma Energy has completed two drill holes at its Soda Lake geothermal operation in Nevada to depths of 4,468 feet and 8,995 feet respectively. The wells were drilled to provide further information regarding the distribution of heat and permeability of the reservoir as part of the Company's plans to double Soda Lake's gross generating capacity from 11 megawatts to 23 megawatts.
Maximum temperatures in the wells were 395 degrees F and 405 degrees F respectively, making the holes the hottest ever recorded within the Soda Lake geothermal field, however initial indications of fluid permeability appear more limited than expected. The Company is utilizing data from all wells drilled to date at Soda Lake to determine whether the new wells will be sufficient for planned expansion. This work will include an optimization review of the current production and reinjection strategy.
Quest Uranium (V.QUC) hit a 52-week high of $1.54; Quest Uranium Corporation announces that it has identified an new rare earth (REE) mineralized zone, less than three kilometres northwest of the Strange Lake REE deposit, Quebec and Labrador. The new zone, called the B-Zone, is associated with a two km-long geophysical anomaly and has been traced at surface by grab sampling over a minimum strike length of 1.7 km and over widths of at least 350 metres.
Values of up to 14.43% total rare earth oxides (TREO) as well as 3.63% yttrium oxide (Y2O3), 7.37% zirconium oxide (ZrO2), 3.95% niobium oxide (Nb2O5) and 2.00% beryllium oxide (BeO) were returned by the rock sampling program. Heavy rare earth elements (HREE) represent up to 67% of the TREO component observed in the new B-Zone. Because of the potential significance of this new discovery, Quest has commenced definition diamond drilling of the B-Zone with the view of including it in Quest's preliminary resource estimate for the property in 2010.
Queenston Mining (T.QMI) hit a 52-week high of $5.90; no news announcements today
Alimentation Couche-Tard (T.ATD.B) hit a 52-week high of $18.43; no news announcements today
Linear Gold Corp. (T.LRR) hit a 52-week high of $2.08; no news announcements today
San Marco Resources (V.SMN) hit a 52-week high of 60 cents; no news announcements today
Ucore Uranium (V.UCU) hit a 52-week high of 62 cents; no news announcements today
